This platform, notes the companies, allows users to carry out cashless transactions using their mobile phone number.

The payment system is called MOBIbucks and it allows any consumer with any cell phone to make everyday purchases safely and securely using only their phone number and PIN.

This solution features all the standard mobile banking capabilities, real-time "alerts," transactional analytics and ability to serve as a virtual card at the point of sale.

"We're always looking to integrate 'best-of-breed' technologies to better address the needs of Jamaicans," said Doug Halsall, OD, the CEO of Advanced Integrated Systems and man credited with many technology "firsts" in Jamaica. "MOBIbucks is the perfect solution for Jamaica and the region. Unlike the U.S., where credit cards are the preferred method of payment, Jamaica is a cash society. MOBIbucks displaces cash and money transfer and gives users a mobile wallet. It will revolutionize the economic landscape for Caribbean consumers and facilitate transactions, making their lives easier."

"International momentum continues to build for MOBIbucks and the cashless, cardless alternative we bring to the mobile payments market," said Jorge Fernandes, CEO of MOBIbucks. "We're proud to partner with Advanced Integrated Systems, a leader in the development of the payments landscape in the region, to deliver a contemporary mobile payment platform that meets the needs of today's and tomorrow's consumers."